Question: My client has been employed for one year in the same line of work that she studied for. Her school history shows her as part-time because she also worked part-time as a substitute teacher while earning her degree. Our lender has conditioned the file because they say she must show a “full-time” status for […]
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Question: Does FHA require a 2-year work history and residential history before qualifying for a home loan? He has been working for 6 months in the same line of work prior to his incarceration. The job gap is 6 years. MC Chart – Employment History Answer: I do think that your client’s situation may comply […]
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Question: My client has been employed for 1 year and previous to that was a high-school graduate. Will his time in high school count as his employment history? Answer: FHA will allow only one year of employment (and even no job history in the case of a new job offer right after specialized training or […]
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Answer: Yes. Fannie and Freddie do not necessarily require a two-year history until it comes to variable income sources such as Bonus, OT, Commission, and Self-employment. You may want to include the borrower’s school transcripts or trade-school diploma to show they were in school for the past couple of years and that the job lines […]
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